Cheung Kong

China retailers show clout

PUBLISHED : Tuesday, 01 June, 2004, 12:00am
UPDATED : Tuesday, 03 July, 2018, 8:27pm

Mainland companies have stamped their presence on a list of Asia's top retailers, occupying 86 of 500 rungs. But only two - Beijing Gome Home Appliance and Carrefour China - made it into the top 30.

The survey, conducted by consultancy firms KPMG and Euromonitor International, ranked the top 500 retail companies by sales turnover in 14 Asian economies.

Eighteen out of the top 20 places were occupied by Japanese retailers. Hypermarket operator Aeon, with sales topping US$20.35 billion, earned the No1 spot.

Beijing Gome ranked 28th on sales of US$2.47 billion, while Carrefour China came 29th with sales of $2.42 billion.

Shanghai Friendship was the top-ranked retailer on the mainland with sales of US$3.53 billion. However, it did not make the regional top 30 because of a survey requirement that took into account sales across seven retail categories.

Hong Kong's largest retailers, AS Watson and Dairy Farm International Holdings, ranked 69th and 72nd respectively.

KPMG's Nick Debnam said the mainland's performance in the survey reflected a fast-growing retail market which had no dominant player.

'As China is the region's second-largest retail market after Japan, international retailers have focused on the mainland,' he said.

Although only two Hong Kong retailers made it into the top 100, the survey put AS Watson, Sa Sa International Holdings and Dairy Farm among the top 10 health and beauty specialists.